Today’s bits: Student debt… It’s not just for kids anymore

Student debt: It’s not just for kids anymore – The experience of being crushed by student debt is no longer limited to the young. New federal data shows millions of Americans who are retired or nearing retirement face this burden, as well as the possibility of having their Social Security benefits garnished to make payments. (NYT)

Passive is the new active – I have repeatedly suggested that most people are better off in passively managed index funds. Dr. Mike McDonald — a professor at Fairfield University — suggests that active managers have a place too; they can capitalize on opportunities when markets are mis-priced — think financial crisis of 2008/09: “…the only way that active management has historically succeeded in beating passive is by capitalizing on market inefficiencies caused by turbulence. Investors who want to benefit from active management need to have the stomach to endure years-long stretches of underperformance from that asset class and stomach churning volatility in the broader markets when the asset class does perform. In the absence of that kind of discipline, a passive approach is the best bet…” (Upshot)

Want to get ahead at work? Hang out with the smart kids – Research suggests that who an employee sits next to affects how they perform — and grouping the right types of coworkers together can improve productivity and work quality. (HBR)

Shopping for a new computer? – Samsung Chromebook Pro vs. iPad Pro: Find the Best Laptop-Tablet Hybrid – The Wall St Journal compares the three (WSJ)

How to Talk About Money With Your Significant Other – When you’re dating someone, there are some conversation topics that are tough to bring up — and I’m not talking about how your last relationship ended! I’m talking about money. (Gen Y Planning)

5 Strategies to Build Wealth After You Buy Your First Home – Thinking about buying a home? You’re not the only one. With interest rates at opportune levels, many people are anxious to get into the real estate market. However, even if you feel like you’re missing out on a hot opportunity, ensure you have the boxes checked in these five money areas first. (Workable Wealth)

Millennials expect more than half of their retirement money to come from personal means — but 42% haven’t even started saving yet – A retirement crisis has been looming in the US for some time. As more Americans grow older and live longer, the prospect of a traditionally secure retirement plan funded primarily by employers and the government has become something of folklore to younger generations. (Your Money)

Five Strategies for Avoiding (or Talking Yourself Out of) Hasty Purchases – The biggest personal finance mistake I make on any sort of a regular basis is to visit a store of any kind where I know I’m going to be personally tempted, and to do so with money in my pocket. A board game store, a bookstore, a stationery/pen/ink store, a brewing supply store – I should never, ever, ever walk into places like that with money in my pocket that I know I’ve budgeted for free spending. It’s a huge mistake. (The Simple Dollar)

Inability to pay down credit debt may be psychological – I’d like to see credit card companies do more to inform their customers about the time that it takes to repay their debt if they’re only paying the minimum, and give them online tools to allow them to develop a budget and a repayment plan that works (ABC 2 News)